Smart Home Appliances Market Finds Lucrative Opportunities In Developing Countries
Global market for smart home appliances is driven by factors such as the rising adoption of mobile devices and technologically advanced products worldwide, the expanding network of high-speed Internet.
A new market research study, titled “Smart Home Appliances Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024,” by Transparency Market Research provides an in-depth analysis of the market. The research study provides a thorough analysis of the global market for smart home appliances along with the historical data and estimated figures, which are presented with the help of tables, charts, graphs, and infographics.
The increasing adoption of mobile devices, technologically advanced product portfolios of smart appliance manufacturers, availability of high-speed internet, and energy-efficient nature of these appliances are some of the key factors fuelling the growth of the global market. In addition, the promise of extra convenience while using these appliances, the amount of time saved, and the reduction in energy and power achieved are further anticipated to boost the demand for smart home appliances across the globe. Some of the major connectivity platforms that are being widely used in the overall smart home appliances market are Bluetooth, ZigBee, Wi-Fi, NFC, and Z-Wave.
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Smart home appliances are the class of next-generation connected equipment that are designed to be controlled with the help of commands from a central system or communicate with other appliances in a network and make certain decisions for the owner. The concept of connected devices, which allow the user to manage everyday home appliances, such as ovens, refrigerators, stoves, air conditioners, vacuum cleaners, washing machines, etc. from any corner of the house, with the use of a mobile computing device, a simple app, and some kind of network that connects the user with the devices, is highly fascinating.
By product type, the global market for smart home appliances can be classified into coffee makers, vacuum cleaners, microwave ovens, washing machines, refrigerators, air conditioners, lighting systems, hot water systems, television sets, coffee makers, sound systems, coffee makers, and gates. The market size and share of each segment have been included in the scope of the research report.
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Among the major geographical segments, Asia Pacific is anticipated to witness rapid growth in the global market for smart home appliances throughout the forecast period. The increasing disposable income among the population, growing commercialization of smart home appliances, and constant expansion of high-speed internet in this region are some of the key factors contributing towards the rapid growth of the Asia Pacific market. On the other hand, the Europe and North America markets for smart home appliances are projected to witness substantial growth due to the technological developments, easy availability of products, growing distribution channels, and higher spending power of consumers. The Rest of the World segment is also projected to grow steadily in the next few years.
Furthermore, the research study covers the competitive landscape of the global market for smart home appliances, including the company profiles, contact information, business strategies, financial overview, SWOT analysis, and recent developments if any. Some of the leading players operating in the market are LG, Whirlpool, GE Appliances, Samsung, and Electrolux. These players have established a dominance in the market due to their early entry in this space. The tremendous demand for smart home appliances worldwide has attracted several other giants, such as Apple, Xiaomi, Intel, Cisco, Microsoft, and Google, to participate in the market.